The WAV Group published a rather interesting study earlier this month that analyzes the data on Zillow, Trulia, and broker web sites in 11 major markets including the nearby Washington Metro area. Several key findings are represented below:
As shown above, sites like Zillow and Trulia were likely to show a significantly incomplete set of listings. This is due mainly to the fact that they do not have a direct feed from the MLS, and thus they piece together their listing data from multiple sources.
As shown above, it takes Zillow and Trulia much longer to show new listings than a local broker or agent web site (like AtCoastal.com).
Finally, over a third of the listings on Zillow and Trulia will appear to be active, when they are really under contract. This is a common problem that we run into almost daily. Many Virginia Beach home buyers think the properties are still active because of these websites use of inaccurate data. To prevent this from happening, use our advanced search engine or our map search and you will find the most up-to-date feed of Coastal Virginia property information available to consumers.
You can read the full study on The WAV Group’s website.